S&P 500, Nasdaq slip at open after solid jobs data fuels hawkish Fed fears; chip stocks fall

(Corrects day ‌of ​the ​week to Friday from Thursday ‌in paragraph 1)

June 5 (Reuters) - ⁠The S&P 500 and ‌the Nasdaq dropped ‌at market open on Friday as ​chip stocks eased after a sharp ⁠rally, while a strong jobs ​report reinforced expectations of tighter monetary policy.

The Dow ​Jones Industrial ‌Average rose 48.1 points, or ⁠0.09%, at the open to 51610.02. The ⁠S&P 500 fell 47.0 points, ​or 0.62%, at the open to 7537.36, while ‌the Nasdaq Composite dropped 294.4 points, ‌or 1.10%, to ⁠26,536.593 ‌at the ​opening bell.

(Reporting by Medha Singh in ‌Bengaluru)

You May Also Be Interested In

• Pakistan's Sharif: Confirm That A Final, Agreed Text Reached
• Nvidia pitches Vera CPU to Chinese clients with August delivery target
• AMD "emerging as a legit second source in the GPU market" says Citi